Deputy Prime Minister launches £200m regional growth pot to support East Midlands businesses

July 3, 2014 12:17 pm

GOV.UK

Businesses in the East Midlands can bid for a share of £200 million, the Deputy Prime Minister announced on 19th June, as he launched round six of the Regional Growth Fund (RGF).

The Government is investing £150 million from the first five rounds of the Regional Growth Fund in the East Midlands, which is supporting 25 projects and programmes across the region, to create and safeguard thousands of jobs that last and stimulate £1 billion of private sector investment.  Applications need to be submitted by midday on Tuesday 30 September.

Deputy Prime Minister Nick Clegg said: “The Regional Growth Fund is a helping hand from Government to create thousands of jobs that last, boost the private sector and rebalance the economy.  I’ve seen first-hand at Toyota in Derby how the fund is supporting businesses that are working hard to fuel our recovery and help us build a stronger economy.  I would encourage any businesses that can generate significant private sector investment and sustainable jobs to bid for a share of the £200 million available from the fund.”

Round six will be open to private sector bidders seeking £1 million or more. The Government is calling on companies to plan high quality projects that will generate significant private sector investment and sustainable jobs. Businesses will be able to submit their bids until noon on 30 September 2014.

Companies in the East Midlands that have already had support from the RGF include:

  • Toyota in Derby was awarded a £6.3 million grant in RGF’s round four to support the design and development of the next generation of cars to be built at the Burnaston Plant in Derbyshire. This will help to safeguard 3,000 jobs and will create up to 300 new posts when the vehicles go into production. Tony Walker, Deputy Managing Director of Toyota Manufacturing UK, said: “We are proud of our achievements at TMUK, and together with our own investments this new funding will help ensure that we can continue to develop and produce new generations of Toyota vehicles here in Britain.”
  • Anthony Nolan, a blood cancer charity, was awarded £1.7 million through RGF to enable expansion of the Cell Therapy Centre in Nottingham and the opening of three new 24/7 collection centres at Nottingham City Hospital, Queen’s Medical Centre and Liverpool Women’s Hospital. This means pregnant women could save a life simply by donating their umbilical cord, which are normally thrown away – with no risk to the mother or baby. The expansion will also help Anthony Nolan create 30 new job opportunities in local areas experiencing high unemployment throughout England.

To help bidders on their applications, roadshows and expression of interest days will be held throughout the country to provide advice on how to make a successful bid. On July 21 an event will be held at The Roundhouse in Derby.

The Business Secretary, Vince Cable, said: “The Regional Growth Fund is a fundamental part of our efforts to boost manufacturing and rebalance the economy, helping to create new jobs in the East Midlands. Round six is now open for applications and I urge businesses to see how it can help them to increase their workforce or expand to new markets.”

Business Minister Michael Fallon said: “Through the Regional Growth Fund, we are investing £150 million in the East Midlands, which will help growing businesses create long-term, highly skilled jobs.”

For further information on RGF and detailed guidance on how to apply, visit the GOV.UK website and find out more about RGF round 6.

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